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The SBA Offers Interest Free Loans to Businesses
Alexandria, Virginia—The International Sign Association (ISA) and the U.S. Small Business Administration (SBA) urge sign makers to consider taking advantage of the SBA’s emergency bridge loan program that offers small businesses loans of up to $35,000.
These America’s Recovery Capital (ARC) loans were authorized in January’s stimulus package, and the program just became effective on June 15. They will offer businesses with immediate financial hardship up to $35,000 in interest-free loans that may be used to pay existing debts, which then can free up money for other important things, like employee salaries and benefits. No repayment is required for up to twelve months, and borrowers will have five years to repay.
These ARC loans are available for a limited time only—as a total of $350 million was made available for this program in the stimulus package (that’s 10,000 loans at $35,000 apiece). If you are interested in obtaining an ARC loan to help your small business, let your usual lender know immediately!
For more ARC loan information, visit www.sba.gov/recovery/arcloanprogram/index.html or email ISA’s David Hickey.
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